This quiz works best with JavaScript enabled. Home > Finance > Economics > Macroeconomics > Economic Growth > Economic Growth – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Growth Quiz 12 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A calculation of what a nation is worth A) Human capital. B) Relationship. C) GDP. D) GDP per capita. E) Investment. Show Answer Correct Answer: C) GDP. 2. A nation with a high GDP invests in human capital A) True. B) False. Show Answer Correct Answer: A) True. 3. "per capita" means A) Grade point average. B) Per person. C) New video game app. D) Per student. Show Answer Correct Answer: B) Per person. 4. A country that wants to focus on policies promoting economic growth should prioritize ..... ? A) Restricting trade with other nations. B) Investing in education and training. C) Reducing the size of its population. D) Maintaining high interest rates. Show Answer Correct Answer: B) Investing in education and training. 5. True or False:Robber Barons used both vertical and horizontal integration to form their monopolies. A) False. B) True. Show Answer Correct Answer: B) True. 6. When economic growth is high in a country which of the following would you NOT expect to see? A) Increased inequality. B) Increased number of businesses. C) Increased construction. D) Increased unemployment. Show Answer Correct Answer: D) Increased unemployment. 7. Climatic extremes A) Farming policy. B) Environmental recovery. C) Climate emergencies. D) Welfare of population. Show Answer Correct Answer: C) Climate emergencies. 8. What is meant by Low Capital Formation? A) Low public desire to start a business. B) People prefer to spend their money abroad. C) Low public desire to save and invest. D) None of above. Show Answer Correct Answer: C) Low public desire to save and invest. 9. If China's economy is larger than that of Taiwan, then it MUST be true that A) China has an absolute advantage over Taiwan. B) China has a highe r GDP per capita than Taiwan. C) China has fewer trade barriers than Taiwan. D) Chinese citizens have greater consumer surplus than Taiwanese citizens. E) Chinese citizens are more productive than Taiwanese citizens. Show Answer Correct Answer: A) China has an absolute advantage over Taiwan. 10. Boomtowns were mostly occupied by: A) Railroad workers. B) Cowboys. C) Homesteaders. D) Miners. Show Answer Correct Answer: D) Miners. 11. What entitlements do individuals have that affords them the opportunity to enter into agreements with others regarding the use of their property providing recourse through the legal system in the event of noncompliance? A) Let it happen. B) Production Functions. C) Contractual Rights. D) Rule of Law. Show Answer Correct Answer: C) Contractual Rights. 12. What factor of economic growth is People who provide the money to start and operate a business? A) Capital Goods. B) Natural Resources. C) Human Capital. D) Entrepreneurship. Show Answer Correct Answer: D) Entrepreneurship. 13. Improved standard of health care would be included in which measure of economic growth? A) Real Income/GDP. B) Productive capacity. C) Net social welfare. D) None of above. Show Answer Correct Answer: C) Net social welfare. 14. Greater leisure time would be included in which measure of economic growth? A) Real Income/GDP. B) Productive capacity. C) Net social welfare. D) None of above. Show Answer Correct Answer: C) Net social welfare. 15. Man-made resources used in the production process i.e. machines in a factory. A) Revenue. B) Labour. C) Capital. D) Household. Show Answer Correct Answer: C) Capital. 16. The three main determinants of growth are A) Energy, technological change and education. B) Workforce, machines and investments. C) Labour, capital and technological progress. D) None of above. Show Answer Correct Answer: C) Labour, capital and technological progress. 17. What is the main policy to deal with economic recession? A) Promote economic stability. B) Promote economic inequality. C) Promote economic growth. D) Promote economic inflation. Show Answer Correct Answer: C) Promote economic growth. 18. Which person demonstrated entrepreneurship? A) Mateo worked hard every day at a grocery store, so his boss gave him a raise. B) Benjamin invested all of his money in the stock of a very popular coffee company. C) Maria wanted a new smartphone, so she saved her paychecks until she could afford it. D) Kara learned to code and started a company designing websites for other businesses. Show Answer Correct Answer: D) Kara learned to code and started a company designing websites for other businesses. 19. A country investing in the health of their citizens. A) Capital goods. B) Human capital. Show Answer Correct Answer: B) Human capital. 20. Given MPM = 0.3, MPS = 0.2, and MPT = 0.2 Given an injection of £20 million in exports.Find the FINAL GDP increase. A) £28.6 million. B) £27.6 million. C) £26.5 million. D) £28 million. Show Answer Correct Answer: A) £28.6 million. 21. What effects occurred as the result of the Galveston Hurricane? A) Built a sea wall to protect buildings from large waves. B) Influenced cities to rebuilt its government by having a city commission. C) Major industries in Galveston moved inland to Houston. D) All of the above. Show Answer Correct Answer: D) All of the above. 22. What is the Transcontinental Railroad? A) A railroad system that connected the entire United States. B) A railroad that connected the east coast to Alaska. C) A railroad that crossed the Atlantic Ocean. D) None of above. Show Answer Correct Answer: A) A railroad system that connected the entire United States. 23. Which country's economy has the most government control out of all the countries in the world? A) Cuba. B) China. C) North Korea. D) The United States. Show Answer Correct Answer: C) North Korea. 24. Water, fish, and trees are all examples of ..... A) Geography. B) Natural resources. C) Erosion. D) Basin. Show Answer Correct Answer: B) Natural resources. 25. How is the economic growth of a country measured? A) By comparing to other countries. B) By analyzing natural and produced resources. C) By studying the types of cars and houses the citizens purchase. D) By comparing the GDP of different years. Show Answer Correct Answer: D) By comparing the GDP of different years. 26. Income that we don't spend or not used for consumption A) Savings. B) DPI. C) NNP. D) PI. Show Answer Correct Answer: A) Savings. 27. The knowledge and skills of the people in the workforce within a country A) Human capital. B) GDP. C) GDP per capita. D) Relationship. E) Investment. Show Answer Correct Answer: A) Human capital. 28. Which of the following is not part of an import substitution development strategy? A) Subsidies to domestic manufacturing businesses. B) Low-interest loans to domestic industries . C) Tariffs on imported manufactured goods. D) Tax incentives to encourage FDI. Show Answer Correct Answer: D) Tax incentives to encourage FDI. 29. What negative effect did gold and silver mining have on the West? A) Mass migration from the East Coast led to social tension among merchants. B) Tent cities near the mines fostered criminals as long-term residents. C) Mining camps were sources of many contagious diseases. D) Ghost towns were left behind after the mines stopped producing. Show Answer Correct Answer: D) Ghost towns were left behind after the mines stopped producing. 30. Which government agency is responsible for creating plans for and coordinating economic development across all sectors? A) NEDA. B) DPWH. C) Department of Finance. D) None of above. Show Answer Correct Answer: A) NEDA. ← PreviousNext →Related QuizzesMacroeconomics QuizzesEconomics QuizzesEconomic Growth Quiz 1Economic Growth Quiz 2Economic Growth Quiz 3Economic Growth Quiz 4Economic Growth Quiz 5Economic Growth Quiz 6Economic Growth Quiz 7Economic Growth Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books